Elon Musk should continue to read every tweet he makes about Tesla to his lawyer.

The US Supreme Court on Monday decided not to consider the appeal of Elon Musk, who sought the opportunity to freely publish his publications about Tesla on social networks, including his own. When planning to buy Twitter (now X), in March 2022, the businessman demanded the termination of the agreement concluded with the American stock market watchdog SEC four years earlier.

In an August 2018 tweet, Musk assured that he had the financing to buy the electric vehicle maker and delist it from the stock market. However, he did not provide evidence of this. The title of high-end electric vehicle manufacturer immediately jumped up. Then, when the group finally abandoned the idea, the shares lost up to 30% of their value.

$20 million fine

Musk was prosecuted for violating securities laws, and then the SEC forced him to resign as chairman of Tesla, pay a $20 million fine and, after another failed tweet in early 2019, have tweets directly related to the company’s activities. . approved by a competent attorney prior to distribution.

In April 2022, a federal judge rejected his request to withdraw from that agreement. The Supreme Court held: This case law continues to prevail. She offered no explanation because Trump’s appeal is part of a “denial of trial” package, or denial of a request for judicial review, that includes about sixty others.

In a parallel lawsuit brought to court by shareholders who believed they were harmed by Musk’s delusional statements, accusing him of “artificially manipulating Tesla’s stock price in order to completely ruin investors” who were betting on a decline in the price, in February 2023 The American justice system ruled that the entrepreneur was innocent. “Just because it’s a bad tweet doesn’t make it a scam,” his lawyer said.